The long term effects are potentially pretty bad for the US (and it's aerospace industry generally), if the FAA is no longer trusted then that's a loss of prest

The long term effects are potentially pretty bad for the US (and it's aerospace industry generally), if the FAA is no longer trusted then that's a loss of prestige and a business cost because anyone wanting to sell abroad can expect local regulators to get involved, FAA and EASA have had a bilateral agreement for a while to basically cover a "you do yours and we'll do ours" approach.